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1317 NE 1st Ave - Sunrise on 1st 2 Unit Apartment Building Offered at $625,000 at a 7.90% Cap Rate Fort Lauderdale, FL 33304
EXECUTIVE SUMMARY
Sunrise on 1st presents a rare duplex offering in the heart of Fort Lauderdale, blending versatile living arrangements with strong income potential. Situated less than two miles from the beach and the vibrant Las Olas corridor, the property enjoys a prime location with immediate access to lifestyle amenities, shopping, dining, and major employment centers. Property Overview The front residence is a well-appointed two-bedroom, one-bathroom home with open living spaces, while the rear residence is a private one-bedroom, one-bathroom unit featuring a dedicated deck—perfect for enjoying the outdoors. Both units are equipped with in-unit washers and dryers, a highly desirable feature for renters.
The grounds include a spacious, landscaped backyard anchored by a tranquil pond and waterfall, creating a private retreat for tenants or an owner-occupant.
Occupancy & Use Flexibility
The property is currently available for lease, offering options for investors and end-users alike. An owner could occupy one unit while generating rental income from the other, or it could serve as a multi-generational home with an in-law suite. For investors, the property's location and layout make it especially well-suited for short-term rental platforms such as Airbnb or VRBO, as well as turnkey furnished rentals aimed at the growing relocation and corporate housing market.
Income Potential
Market rents in the immediate area support approximately $2,800/month for the two-bedroom front unit and $2,100/month for the one-bedroom rear unit, creating a projected combined gross monthly income of $4,900 (or $58,800 annually). Short term rents 3,000 to 4,500 monthly plus. With limited supply of quality duplexes in this submarket, and with demand for both long-term and furnished short-term housing continuing to rise, the property offers strong yield potential.
Key Highlights
Prime location under 2 miles to the beach, Las Olas, and downtown Fort Lauderdale.
Flexible living arrangement: owner-occupied, investment rental, or in-law suite.
Both residences include washer/dryer unitsan uncommon amenity for duplex product.
Expansive backyard with pond and waterfall, ideal for outdoor enjoyment and tenant appeal.
Market rents point toward robust cash-flow opportunities and Airbnb upside.
Disclaimer
All figures are approximate; buyer to verify all data and confirm with MLS and local market research.
The grounds include a spacious, landscaped backyard anchored by a tranquil pond and waterfall, creating a private retreat for tenants or an owner-occupant.
Occupancy & Use Flexibility
The property is currently available for lease, offering options for investors and end-users alike. An owner could occupy one unit while generating rental income from the other, or it could serve as a multi-generational home with an in-law suite. For investors, the property's location and layout make it especially well-suited for short-term rental platforms such as Airbnb or VRBO, as well as turnkey furnished rentals aimed at the growing relocation and corporate housing market.
Income Potential
Market rents in the immediate area support approximately $2,800/month for the two-bedroom front unit and $2,100/month for the one-bedroom rear unit, creating a projected combined gross monthly income of $4,900 (or $58,800 annually). Short term rents 3,000 to 4,500 monthly plus. With limited supply of quality duplexes in this submarket, and with demand for both long-term and furnished short-term housing continuing to rise, the property offers strong yield potential.
Key Highlights
Prime location under 2 miles to the beach, Las Olas, and downtown Fort Lauderdale.
Flexible living arrangement: owner-occupied, investment rental, or in-law suite.
Both residences include washer/dryer unitsan uncommon amenity for duplex product.
Expansive backyard with pond and waterfall, ideal for outdoor enjoyment and tenant appeal.
Market rents point toward robust cash-flow opportunities and Airbnb upside.
Disclaimer
All figures are approximate; buyer to verify all data and confirm with MLS and local market research.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Taxes |
$5,084
|
$3.60
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$5,084
|
$3.60
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Taxes | |
|---|---|
| Annual | $5,084 |
| Annual Per SF | $3.60 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $5,084 |
| Annual Per SF | $3.60 |
PROPERTY FACTS
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Dishwasher
- Disposal
- Ceiling Fans
- Kitchen
- Granite Countertops
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Walk-In Closets
- Wi-Fi
- Yard
- Garden
- Lawn
- Patio
- Window Coverings
SITE AMENITIES
- Picnic Area
- Pond
- Zen Garden
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 1 | $2,800 | 936 |
1 1
Walk Score®
Very Walkable (73)
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1317 NE 1st Ave - Sunrise on 1st
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